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BRIEF-Singapore Press To Roll-Over Existing Stake In M1 Into Offeror

Reuters

Sept 27 (Reuters) - Singapore Press Holdings Ltd:

* UNDERTAKEN TO ROLL-OVER ITS EXISTING 13.45% STAKE IN M1 INTO OFFEROR; ENVISAGED TO INVEST UP TO S$51.3 MILLION IN CASH IN OFFEROR FOR M1

* APPROVAL FROM INFO-COMMUNICATIONS MEDIA DEVELOPMENT AUTHORITY ("IMDA") IS A PRE- CONDITION TO MAKING OFFER

* UPON CLOSE OF OFFER, SPH'S EFFECTIVE STAKE IN M1 MAY INCREASE UP TO 16.13%

* POST IMDA APPROVAL, OFFER TO BECOME UNCONDITIONAL WHEN OFFEROR, CONCERT PARTIES GET OVER 50 PER CENT OF ISSUED SHARE CAPITAL OF M1 Source text for Eikon: Further company coverage: